|FAQ -- Frequently Asked Questions
These are the kinds of questions we frequently ask our client Leadership Team, because the answers will help you profit:
- How much of your time is spent working on the business versus in the business?
- What are the major issues and challenges the business is facing?
- What do you feel is the company’s mission and purpose?
- Who in the company, other than yourself, knows all of the key measures that you use to run the business?
- What do you want the business to be like in three years?
- If you could clone yourself, what big projects would you tackle?
- What three things would you wish for the business?
- Does the company effectively think about, plan, and execute against its future?
- Is your competition becoming more aggressive?
- Do you need to develop new products and services?
- Is the leadership team aligned and working effectively?
- Which departments have the biggest opportunities before them?
- How do you develop, test, and evaluate your alternatives?
- How would you describe the company’s culture?
- What else do you believe is important that we understand about the business?
MARKETING & SALES QUESTIONS
- How can we improve the number of high-profit sales?
- Do you understand your customer’s business model?
- Are your company’s vision, mission, and goals compatible with those of your customers?
- What business are you really in, (not what products do you make)?
- What are the company’s best strategies for securing new customers?
- What are your early indicators of a sales shortfall for the month, quarter?
- What problems do your competitors and customers know you have?
- Why do our customers buy from us rather than our competition?
- Do you have a process to research and explore new market opportunities?
- If we have an innovative product idea will management support it?
- What aspects in serving your customers need to be improved upon?
- How often do you streamline your product line and get rid of the dogs and cats?
- Are monthly financial statements prepared?
- Are you happy with the accuracy of the statements and cost system?
- How many working days does it take to have the statements prepared?
- What would you like to see improved regarding the statements?
- Are you pleased with the condition of your Balance Sheet?
- Have you reduced the Cash Conversion Cycle over the last year?
- What is the trend with regard to your inventory levels?
- What is the trend in your A/R DSO?
- Are you projecting Cash Flow monthly and quarterly?